Bitcoin mining.

[Bitcoin]

AMD Radeon RX 570.
The AMD Radeon RX 570 costs approximately $160.00 for 8GB of memory. The AMD Radeon RX 570 is more of a value graphics card than the AMD Radeon RX 580. When it comes to general use, there is very little difference between the AMD Radeon RX 570 and the AMD Radeon RX 580.
AMD advises the typical power requirement of the AMD Radeon RX 570 is 150W. The AMD Radeon RX 570 has come under criticism for not being very power efficient, so it may not be the best card for mining Ethereum. Although when optimized the RX 570 hashrate Ethereum is slightly more efficient than the AMD Radeon RX 580, with the RX 570 Ethereum hashrate at 27.9MH/s vs. 27.5MH/s. Like the AMD Radeon RX 580, the AMD Radeon RX 570 can be used for 24-hour mining. The AMD Radeon RX 570 can also be used to mine two different cryptocurrencies simultaneously.
Like the AMD Radeon RX 580, the AMD Radeon RX 570 is most efficient when using the Ethash algorithm. The RX 570 is also very efficient mining coins using the CryptoNight algorithm.
Both the AMD Radeon RX 570 and AMD Radeon RX 580 have been criticized for being less power efficient than their Polaris predecessors on which they are based.
The AMD Radeon RX Vega 56 is a higher-end GPU than the AMD Radeon RX 580 and AMD Radeon RX 570. Although the AMD Radeon RX Vega 56 costs approximately $300.00, it may not be the best value GPU when compared to others which are at around the same price point.
The AMD Radeon RX Vega 56 is most profitable when used to mine coins using the Ethash mining algorithm. The AMD Radeon RX Vega 56 is also efficient at mining coins using the CryptoNight algorithm.
AMD advises the typical power requirement of the AMD Radeon RX Vega 56 is 210W. The AMD Radeon RX Vega 56 hashrate is higher than the AMD Radeon RX 580 or the AMD Radeon RX 570 at 36.5 MH/s. Despite the high RX Vega hashrate, when compared to the AMD Radeon RX 570, the AMD Radeon RX Vega 56's electricity usage is 40% higher, while the AMD Vega hashrate is only 31% higher. So the AMD Radeon RX Vega 56 is less efficient than the AMD Radeon RX 570.
Click here for a more detailed review of the AMD Radeon RX Vega 56 vs. other GPUs (including a GPU hashrate chart). The analysis also concludes that although the AMD Radeon RX Vega 56 may be more powerful, it is not as efficient as some of the cheaper options available, such as the AMD Radeon RX 570.
AMD Radeon RX 470.
The AMD Radeon RX 470 costs approximately $200.00 for 8GB of memory, so is a very cheap GPU for mining. Although the AMD Radeon RX 470 was an excellent GPU when it was released it only cost 5% more for the more powerful AMD Radeon RX 480. This resulted in the RX 470 being an unpopular AMD mining card as the AMD Radeon RX 480 is seen as being the better value.
The AMD Radeon RX 470 is most profitable when used to mine coins using the Ethash mining algorithm. The AMD Radeon RX 470 is also efficient at mining coins using the CryptoNight algorithm, such as Monero and Digibyte.
The AMD Radeon RX 470 uses the least power out of all the AMD GPUs covered in this article, with only 120W of usage. The AMD Radeon RX 470 graphics card hashrate is 26.0 MH/s. This makes the RX 470 the most efficient and arguably the best AMD mining GPU of the four AMD GPUs covered in this article.
Nvidia GTX 1080 Ti is Nvidia's flagship gaming GPU. The Nvidia GTX 1080 Ti costs approximately $900.00 for 11GB of memory. This price point is to be expected for those looking to build a high-end gaming PC. However for those wanting to use the GPU to mine cryptocurrency, the Nvidia GTX 1080 Ti's high hashrate is probably not worth the extra cost or increased electricity consumption. So despite being a very good graphics card, it might not be such a sound mining graphics card.
The Nvidia GTX 1080 Ti has a hashrate when mining Ethereum of 36.0 MH/s. The most profitable coins to mine with the Nvidia GTX 1080 Ti are those using the Mimblewimble algorithm, such as Beam or Grin. The Nvidia GTX 1080 Ti is not one of the best Ethereum mining cards. Although not covered in this article the GTX 1080 mining Ethereum hashrate is 20.35 MH/s, which is considerably lower than the Nvidia GTX 1080 Ti, with electricity usage of 180W.
Nvidia advises the typical power requirement of the Nvidia GTX 1080 Ti is 250W, making it the highest hashrate GPU covered in this article. Combined with the higher cost of $900.00, would mean it could take a long time to recover your costs. The Nvidia GTX 1080 Ti is probably not better value than any of the AMDs covered concerning cryptocurrency mining.
The Nvidia GTX 1070 Ti costs approximately $600.00 for 8GB of memory, which is significantly cheaper than the Nvidia GTX 1080 Ti.
Nvidia advises the typical power requirement of the Nvidia GTX 1070 Ti is 180W, although it looks like it is only 120W if used for mining. The Nvidia GTX 1070 Ti has a hashrate of 43.27 MH/s, which is by far the most powerful of the GPUs covered so far. Like the Nvidia GTX 1080 Ti, the Nvidia GTX 1070 Ti is most profitable when mining Mimblewimble coins.
The Nvidia GTX 1070 Ti is more efficient than any of the GPUs covered so far. As the AMDs are, however, significantly cheaper the price and impact on time until breakeven would need to be taken into consideration when deciding which GPU to purchase. Although of all the Nvidias covered in this article the Nvidia GTX 1070 Ti may be the best video card for mining Ethereum.
The Nvidia GeForce GTX 1070 mining card costs approximately $540.00 for 8GB of memory. The Nvidia GeForce GTX 1070 is cheaper than both the Nvidia GTX 1080 Ti and the Nvidia GTX 1070 Ti. However, as expected, it is also the least powerful. This would make GTX 1070 Bitcoin mining extremely inefficient, even more so than for the other GPUs, as the GTX 1070 Bitcoin hashrate is very low.
Nvidia advises the typical power requirement of the Nvidia GTX 1070 is 150W. The Nvidia GeForce GTX 1070 hashrate Ethereum is 32.00 MH/s, which makes it significantly less powerful than the Nvidia GTX 1070 Ti and less efficient. So the GTX 1070 mining performance is not great. It is doubtful the slightly lower price is enough to offset such a vast difference in the efficiency of the GTX 1070 mining Ethereum. The Nvidia GTX 1070 is most profitable when mining Mimblewimble coins.
The Nvidia GeForce GTX 1070 may not be the best card for mining. Both the Nvidia GTX 1070 Ti and the Nvidia GTX 1070 have come under criticism for their cooling ability. This could be an issue if you will be using them to mine cryptocurrency 24 hours a day. Despite this, the Nvidia GeForce GTX 1070 is often ranked well in the best GPU for mining 2019 by various websites including Tech Radar.
Nvidia GTX 1060.
The Nvidia GTX 1060 costs approximately $300.00 for 6GB of memory, making it by far the cheapest of all the Nvidia mining GPUs covered in this article.
Nvidia advises the typical power requirement of the Nvidia GTX 1060 is 120W, so the Nvidia GTX 1060 uses the least electricity of all the Nvidia mining cards covered. The Nvidia GTX 1060 has a hashrate of 23.5 MH/s, which is by far the lowest of all the Nvidia mining video cards covered. However, despite the low hashrate, the Nvidia GTX 1060 is fairly efficient due to its low electricity usage. The low price is also a big pull for the Nvidia GTX 1060 as the payback period will likely be quicker than for the more efficient NVidia's.
Unlike the other Nvidias covered in this article the most profitable coin to mine for the Nvidia GTX 1060 is Aeternity, with coins using the Ethash mining algorithm the most profitable after that.
Ethereum Mining Hardware Comparison GPU (including Ethereum GPU Hashrate Chart)
The below table shows a GPU mining comparison for all 8 GPUs reviewed, to help you make the right decision and build the best mining rig possible. Each GPU has been ranked based on its hashrate divided by its electricity (i.e., efficiency), as a GPU hash rate comparison is not the only factor that should be considered. However, this Ethereum mining GPU list ranking does not consider the initial outlay that would be required when buying the GPUs.
So the highest ranked (and therefore arguably the best graphics card for mining) Nvidia GTX 1070 Ti costs $600 and would take longer to pay for itself than the second-ranked AMD Radeon RX 470, which only costs $200. So this is something that would need to be taken into consideration when considering the best card for Ethereum mining (ETH mining GPU). Furthermore, Nvidia GPU mining generally has a higher initial outlay required than AMD GPU mining.
It is worth adding the hashrates below are the hashrates when mining Ethereum, effectively making the table an Ethereum mining GPU comparison. As they are all doubtful to be profitable for Bitcoin mining, so there is no point trying to find the best graphics card for Bitcoin mining.
GPU Price GPU Hash rate Most Efficient Mining Electricity Usage Hashrate / Elec Rank AMD Radeon RX 580 $200.00 27.5 MH/s Ethash 185W 0.149 7 AMD Radeon RX 570 $160.00 27.9 MH/s Ethash 150W 0.186 5 AMD Radeon RX Vega 56 $300.00 36.5 MH/s Ethash 210W 0.174 6 AMD Radeon RX 470 $200.00 26.0 MH/s Ethash 120W 0.217 2 Nvidia GTX 1080 Ti $900.00 36.0 MH/s Mimblewimble 250W 0.144 8 Nvidia GTX 1070 Ti $600.00 43.27 MH/s Mimblewimble 180W 0.240 1 Nvidia GeForce GTX 1070 $540.00 32.0 MH/s Mimblewimble 150W 0.213 3 Nvidia GTX 1060 $300.00 23.5 MH/s Aeternity 120W 0.196 4.

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Best GPU for Mining Ethereum.
Unfortunately, as explained at the beginning of this article, GPUs are not efficient at mining Bitcoin. However, some GPUs can still mine Ethereum at a profit. So what is the best graphics card for Ethereum mining? The AMD GPUs covered are better at mining Ethereum, than the Nvidia's. As although they are generally lower Ethereum hashrate GPUs, they are more efficient - as shown by the above Ethereum GPU comparison. The most efficient, and arguably the best GPU for Ethereum, is the AMD Radeon RX 470.
Although not covered in this article, the AMD Radeon RX 480 may also be worth looking at when considering the best graphics card for mining Ethereum. The AMD Radeon RX 480 Ethereum hashrate is 29.3 MH/s, with an electricity usage of 150W. Another to consider when deciding the best mining GPU 2019 is the AMD Radeon RX Vega 64. The RX Vega 64 mining hashrate is 40.0 MH/s with an electricity usage of 295W. Thich is likely to be too high to make it a good GPU, despite the high RX Vega 64 hashrate. The AMD Radeon R9 290x is also popular, the R9 290x hashrate is 23.2MH/s.
In conclusion, there is no best GPU for mining Bitcoin because of how difficult it is to compete with ASICs. However, there are plenty of GPUs that can still be used for profitable mining, even if there is no 'best GPU for Bitcoin mining.' Although certain GPUs are better than others at mining different coins and algorithms, there is no GPU to rule them all. Various factors should be considered, as well as efficiency and price. Factors to consider could be the level of noise GPUs generate, the amount of heat they give off, and the amount of space they will need. All these factors should be considered when purchasing a GPU(s) for cryptocurrency mining.
Author Profile.
Fat Finger.
My name is Phat Fin Ge, but most people just call me Fat Finger or Mr. Finger.
Many years ago, I was a trader on the Hong Kong Stock Exchange. I became so successful that my company moved me to their offices on Wall Street. The bull market was strong, but my trading gains always outperformed market averages, until that fateful day.
On October 28th, 1929, I tried to take some profits after Charles Whitney had propped up the prices of US Steel. I was trying to sell 10,000 shares, but my fat finger pressed an extra key twice. My sell order ended up being for 1,290,000 shares. Before I could tell anyone it was an error, everyone panicked and the whole market starting heading down. The next day was the biggest stock market crash ever. In early 1930, I was banned from trading for 85 years.
I went back to Hong Kong to work at my family's goldfish store. Please come and visit us at Phat Goldfish in Kowloon, only a 3 minute walk from the C2 MTR entrance.
I thought everyone would forget about me and planned to quietly return to trading in 2015. To my horror, any error in quantity or price which cause a problem kept getting blamed on Fat Finger, even when it was a mix up and not an extra key being pressed. For example, an error by a seller on the Tokyo Stock Exchange was to sell 610,000 shares at ¥6 instead of 6 shares at ¥610,000. That had nothing to do with me or with how fat the trader's finger was, but everyone kept yelling, "Fat Finger! Fat Finger!" In 2016, people blamed a fat finger for a 6% drop in the GBP. It really was a combination of many things, none to do with me or anyone else who had a wider than average finger.
Now that I can trade again, I'm finding forex more interesting than stocks. I've been doing some research on trading forex and other instruments and I'll be sharing it here.
If you see any typing errors, you can blame those on my fat finmgert. If you see any strange changes in price, it's not my fault.
Best laptops for mining 2019: top notebooks for mining cryptocurrencies.
By Matt Hanson 19 April 2019.
Fancy mining on a portable machine?
You don't need a gigantic mining PC that chugs electricity to mine for cryptocurrency. With this list of the best mining laptops you can buy today, we've gathered up all the best laptops that can be used for mining.
Before you head out and drop a wad of cash on the best gaming laptop to get your mining operation moving, you need to think about a few things. First, you need to figure out which cryptocurrency you're going to pursue. And, even if you already have the best mining laptop, there's a harsh truth you have to face: many cryptocurrencies have all but died off. That's not to mention that some cryptocurrencies are just easier to mine on mobile hardware than others.
You should also think about the warranty of the laptop you're looking at. You'll be putting it through a ton of stress while mining, so you want to make sure your investment doesn't burst into flames.
You might be saying: "hold on, why even use a laptop for mining?" Good question. Well, the best mining laptops will be much more compact and portable than a traditional mining rig, so you can get some mining done on the road, without having to travel in a caravan. Read on to find the best mining laptops on the market in 2019.
The importance of P versus NP is mainly in its consequences for computing. It happens to be one of the seven Millennium Prize Problems , meaning The Clay Mathematics Institute of Cambridge, Massachusetts will award $1 million to whoever manages to prove or disprove the statement. But should you prove that P in fact does equal NP, you wouldn't even need the $1 million prize. As theoretical computer scientist Scott Aaronson explained last week at a lecture in a stuffy auditorium at Los Alamos National Lab in New Mexico, proving that P=NP would open up some intriguing possibilities.
To understand this, you need to know that computers are devices that solve problems, abstracted into code readable by the physical computing device, based on the principles put forth by Alan Turing. Solving problems takes a number of steps and a certain amount of time, with the amount of time required increasing as the problem grows larger.
"P" refers to the problems that computers solve all the time, from something as simple as multiplying two numbers to more complex tasks like browsing the internet. As a problem grows in complexity, the amount of time it takes to solve it grows in "polynomial time," where a polynomial is a number with a power and a coefficient (like n 2 ). If a problem is solvable in n 2 time and you double the size of the input, then the amount of time it would take to solve would go up by four.
Yet there are plenty of problems where one can determine that a given answer is correct in polynomial time, but actually getting to that answer may or may not be possible in polynomial time. These are called "Nondeterministic Polynomial time" or NP problems. Sudoku is an NP problem--hard to solve, easy to check. Another important example today is factoring large numbers into prime numbers. For now at least, it takes a very long time--slower than polynomial time--to factor very large numbers into primes, but checking that an answer is correct is as simple as multiplying the resulting numbers together. Indeed, this exact idea is the basis of modern encryption, which relies on generating security keys that are easy to verify but hard to crack.
Newer mathematical proofs have found, and might continue to find, P solutions to some of these NP problems. The P versus NP problem asks whether every NP problem has a P solution, or if there exists some NP problem that can absolutely not be solved in P. It seems like it should be obvious that P does not equal NP, but it is not rigorously mathematically proven. And if you happen to prove that P does equal NP, you will have also demonstrated that there are polynomial-time algorithms for a whole lot of very important computer problems. You could make yourself very rich--Bitcoin mining and security keys rely on hard-to-solve, easy-to-check NP problems.
Quantum computers , which are based on different mathematics than classical computers, do not promise P solutions to every NP problem. It was once thought that they might be able to solve the hardest class of NP problems, called NP-complete problems. If you could find an efficient solution to those, you'd be able to find efficient solutions to all NP problems. This includes the traveling salesman problem and a host of other similar optimization problems. But quantum computers haven't lived up to this hype . Instead, quantum computers might solve some P problems in a shorter time (as in, with a lower polynomial) or move some NP problems into the quantum generalization of P, called BQP or "Bounded-Error Quantum Polynomial Time."
So go out there and try and prove that P does, or does not, equal NP. If you're successful, you'll make at least a million dollars, and perhaps much, much more. If you're unsuccessful, well, hopefully you will have led a meaningful life researching computational theory.

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What are bitcoin miners really solving?
As with mining, what are the bitcoin miners really solving? I read they are solving hashes, but what does that really mean. Can we see what they are solving? Can someone give an example of what a Bitcoin mining machine sees to solve?
4 Answers 4.
They try to find a random nonce (a little random data) that goes into a block and makes the block have a (SHA256) hash that (in binary) starts with a certain amount of 0's. The more zeroes the more rare hash is. A good hash' outcome is not predictable, and so you have to try a lot of times to find a good nonce.
The amount of zeroes are based on how difficult it is supposed to be to find a block. In Bitcoin it adjusts to have a new block every 10 minutes (on average, given the rate at which previous blocks are found).
Interesting: because the hashes are unpredictable it doesn't matter how the nonce changes! Most of the time it's just a number counting upwards from 0!
Here is an extremely simplified sketch of the problem, but it should give a pretty good idea of what the problem is.
The data:
This is the hash of the lastest block (shortened to 30 characters):
These are the hashes of a few valid transactions waiting for inclusion (shortened).
And this the hash of one special transaction that you just crafted, which gives 25BTC (the current reward) to yourself:
Building the next block:
Now, let's use a gross approximation of what a new block might look like (the real one uses binary format). It contains the hash of the previous block and the hashes of those 3 transactions:
Now let's do mining by hand! Our goal is to complete this block with a nonce (a piece of garbage) such that the hash of the new block starts with 13 zeros (considering the previous hash, it seems that 13 zeroes is the current difficulty!).
Mining (trying to finalize this block):
Let's try with nonce=1, and compute the hash of the block (I'm using the md5 hash algorithm, but Bitcoin uses double sha256):
No luck, the hash does not start with a 0... Let's try with nonce=2.
If we pursue until nonce=16, we get our first leading zero.
For nonce=208, we get two leading zeroes!
Continue like this... If you finally find a hash that has 13 leading zeroes... you're a winner! Other miners will now build upon your block, you've just got 25BTC.
But you'll have to be fast!
Back to step 1...
If someone manages to build a block before you do, you'll have to start again from the beginning with the new block's hash (the one of the winner).
10 minutes? 2) How does that transaction come to me anyway? 3) What if I find a solution for this block and then a new transaction comes to me from some other node who accepted it for the block I just closed? - keremispirli Apr 28 '14 at 17:24.
The following is a description of the global, statistical gamble which is played every 10 or so minutes. The interval of the game is controlled by the difficulty which says how many "hashes" are needed per interval.
In other words, the difficulty and target define the "odds of the house" against your chance of getting a winning SHA hash. The nonce is the "scratch off" area.
Each hash consumes electricity, and emits heat, which requires additional cooling.
This is what is done with each hash:
At a high level, the miner software takes a list of active transactions, and then groups them together in something called a "block".
Or more accurately stated: The miner software coverts all the transactions into a summary view called a "merkle root", and hashes it, which is representative of the transactions.
Then mining software converts this to into a binary format called a Block Header, which also references the previous blocks (also called a chain).
Step 3:
The miner hardware changes a small portion of this block called a "nonce".
Step 4:
The block header is hashed and compared to the Target as if it were simply a large number like 10,000,000 > 7,000,000 (the real numbers are much bigger, and in hex). The target is compressed and stored in each block in a field called bits.
An expanded target looks like this:
And the goal is to make sure the SHA256 hash of the block is less than this value. In the example below " 83ee " is smaller than " 83ef "
To simplify this concept, you can ballpark the target by counting the leading zeros (as the other answer here explains). Here is an example:
Here is a sample block with transactions you can view on BlockChain.info. Look in the upper right hand corner of the webpage for this hash:
That previous hash was from today and has 14 leading zeroes. Let's compare that to what was needed 3 years ago with block 100 which has 8 leading zeros.
Summary.
So at the end of the day, all a miner does is:
Take a block header as input Change the Nonce Test if the Block Header hash is less than the Target. If it is, you win. Go to step 2 (or go to step 1 if someone else won the block)
Want to see what Bitcoin-QT does when it finds a block. I posted it here.. The information in this post will help you understand what happened.
Mining provides a way to reach consensus on what the transaction ledger should look like and know that nobody is cheating.
That's the non-technical definition of mining.
The "authority" for double spending is the blockchain. The blockchain consists of the history of all blocks in the blockchain plus the next block of transactions. The reward subsidy currently is 25 BTC to the party that submits the next block. But hey . you would like that 25 BTC (worth currently about $825) as would I as would everyone else. So how do you make it so that I can't cheat and claim the block myself?
Well, you put in a system that you and I have to compete. That's what the proof of work does -- it makes it so that when I claim the reward it is easy to prove that I really did the work involved. So for me to have a 2% chance of solving a block I need to put in 2% of of the mining work. There's no way for me to put in less than 2% of all the work and still solve blocks at least 2% of the time (on average).
Thus as a result, when a transaction block is submitted, all the peers verify that there were no double spends, that the right amount of subsidy was claimed, and that the submitter truly expended the work necessary for that solution. With those three rules, then there doesn't not need to be a central authority managing the process or able to control the outcome.

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QuickBTC Free Bitcoin Mining Website|4:29

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What Puzzle​ Bitcoin Miners Actually Solve?
To understand what problem Bitcoin miners solve we have to first understand what SHA-256 is.
SHA-256 stands for "Secure Hash Algorithm" which is a Cryptographic Hash Algorithm.
A cryptographic hash (sometimes called 'digest') is a kind of 'signature' for a text or a data file. SHA-256 generates an almost-unique 256-bit (32-byte) signature for a text.
What it means is whenever an SHA-256 algorithm is applied to any length of string or text, it will give back a unique 256-bit string like below. This is known as a hashing function.
An example of a 256-bit string: EF9F171116ABFB430DD0920B081A62998CB6433C76503238D9A79FA4244A8884.
This string will always be different for each string or content i.e. no two different strings in the world can have the same SHA2 even if they differ just by one bit. E.g. "My name is Crypto Purview" and "My name is CryptoPurview" will have different SHA-256. (Note there is just space difference between 2 strings)
SHA256 for My name is Crypto Purview is: A1B02DA40FC6B104DAC8357E8B164264A0EA611E6C36F5E73A410CACBCBCFA62.
SHA256 for My name is CryptoPurview is: 4D942ECCAAF6250853369F80EC0B84C68ED03C57BCF0DD60E3FFD01392D9F966.
Try yourself to generate SHA-256 for a text string here. Let's suppose I ask you to calculate SHA-256 of the below block of text, it will take you seconds using a simple algorithm to give me an answer.
start text address10 -> 1 btc -> address23 address23 -> 0.5 btc -> address50 address21 -> 100 btc -> address200 address36 -> 0.001 btc -> address214 end text.
Let's take the above problem one step further and I ask you to calculate SHA-256 of the same block of text with one new line added on top of the text block called Nonce.
You can choose Nonce to be any number example 123234 or 22123 and move lines in any order. For example, you can swap the position of line 1 and line 2, but I want the resulting SHA256 to start with leading five 0s.
Something like below: 000003D4F9EB9395B6CD9692F6A37DF9EFCD607B64371AB3249C42D564378EF9.
Let's suppose in your first attempt you calculate it using below text block:
start text Nonce:123456 address10 -> 1 btc -> address23 address23 -> 0.5 btc -> address50 address21 -> 100 btc -> address200 address36 -> 0.001 btc -> address214 end text.
The SHA256 for the above combination of strings comes out to be: 7C4D90C28727BADC5DC32AB3CE16BC9ED733E4E570FD42BA420272A5304AFC2A.
Hard luck for you, not starting with leading five 0s. You try this again with different Nonce values and arrange the above transactions in a different order. In order to crack this "puzzle", miners use different permutations of Nonce value and order. This process consumes a lot of computation power.
In the actual world, these lines are unconfirmed bitcoin transactions and are 1000s in numbers and it takes a room full of GPUs to solve it. The moment any of miner or "problem solver" hits the jackpot i.e. able to find SHA2 with leading required 0s, it will raise its hand and tell other miners the solution and claim the reward 'Bitcoin'.
More the number of leading 0s required, more difficult it is to crack the puzzle as more permutation and combinations are required.
For example, the block '520282' mined had SHA2 as below: 0000000000000000003d05ef31993d1ddb80b6ef5632d0ae939ea1b22a24e150 and Nonce was 554703974.
You can check it from this link.
SHA-256 is used in several different parts of the Bitcoin network: - Mining uses SHA-256 as the Proof of work algorithm. - SHA-256 is used in the creation of bitcoin addresses to improve security and privacy.
What Problem is Solved by Bitcoin Miners?
By Milly Bitcoin - May 16, 2013.
One of the most common questions about Bitcoin mining. What are they doing? What problem are they trying to solve? Can it be solved with pen and paper? Are they wasting resources? Are they using the computer power to hack something?
The problem being solved involves cryptography. To put it simply, a cryptographic cipher turns one string into another string. A simple cipher would be multiplying by 6.
The are are problems with using "multiplying 6" as scheme. The biggest problem is that it is pretty easy to figure out the original number by just diving by 6! Also, the number will get larger and larger.
To get around this all kinds of complicated mathematical operations are done on very long strings of numbers. It would take a very long explanation of the algorithm used. Below is diagram of one step of one hash. Those things on the right are special mathematical functions that are tedious to calculate and require a computer.
Modern Bitcoin miners can do this problem approximatly 1 billion times a second so it might not be worth while to use pen and paper.
You can try it yourself at a web site http://www.xorbin.com/tools/sha256-hash-calculator. Put in a value in the top and you will see a string come up in the bottom. Then you have to keep changing the input by adding stuff until the answer starts with a zero.
Bitcoin is more complicated because certain information has to be included, including the hash from the last block. That way the current block depends on all the blocks before it so it is "chained" together which is why it is called the "Blockchain.". The "difficulty" of the problem is changed by simply increasing the number of zeros in the start of answer (0h4fgs64j..., 00h3uyf8h..., 000yheofle... ) so it is harder to find the answer. As more people mine, the problem becomes more difficult and the problem adjusts so it is solved every 10 minutes on average.
The Proof of Work (PoW) ideas goes back to a concept called HashCash which was meant as a deterrent to spam. The sender must provide a solution to a cryptographic problem before the message will be accepted.
For instance, take a cryptographic hash using the SHA256 hashing algorithm of the term "message" (without quotes) and you get:
Now if the rules say you must have a hash that starts with a zero you can start adding stuff until you get a hash that works:
After going through the numbers sequentially 51 was the first one that worked. As long as "51″ is sent along with the message the receiver can quickly verify it meets the requirements by performing the hash and accept the message. The added portion, in this case"51," is called a "nonce."
Bitcoin mining works by compiling the transactions, the value that depends on all previous blocks, and then finding a "nonce" that meets the criteria.
The purpose of solving this problem is merely to show that work was done to get the answer. It comes from a problem called the "Byzantine General's problem." You have general who is giving orders to "attack" or "retreat" and he sends those orders to his underlings. These underlings then relay the orders to troops. The problem is that a small number of underlings are traitors and will relay false orders. In order to prevent the traitors from causing catastrophic results an order is not accepted unless it is received from multiple sources. To recreate the false message a traitor would have to do a tremendous amount of work. The purpose of all the extra work is to prevent the traitors from sending false messages but serves no other purpose.
When the mining a block the Bitcoin mining algorithm works like this:
A block starts out with a header and a single transaction to pay the miner reward. This transaction has a special name (called the "coinbase"). Transactions are added to the block. A block "header" of fixed length is formed by doing cryptographic hashes of the transactions (called the Merkle root). Mining uses SHA256 cryptography which breaks the data up into 64 byte chunks and operates on each chunk so there are 2 chunks and 2 steps to the SHA256 algorithm in this case. The first sha256 step is performed on the first chunk of the header and that does not change. This is called the "midstate" because it is partway through the SHA256 process which is 2 steps in this case. The "midstate" is sent to the ASIC processor, The second step of SHA256 is done on the second chunk of the header. This includes the nonce field. This is done on the Application Specific Integrated Circuit (ASIC) chip. The entire solution is run through a second round of SHA256 and the solution compared to the difficulty (that is part of the block header). The nonce is returned if it meets the difficulty. This is done on the ASIC chip. The nonce is incremented and the last 2 steps (6 and 7) are done again 2**32 times to exhaust all possible nonce values. This is done on the ASIC chip. If no solution is found another nonce contained within the coinbase transaction is incremented. This changes the hash of the coinbase transaction and the merkle root The process goes back to step 5 and continues until a solution is found.

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2020 New Bitcoin Mining Website Sinhala - NSCDGEEK|9:51

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Because the chips do 2 rounds of SHA256 they cannot be used for other SHA256 tasks that generally only use 1 pass. This means Bitcoin miner ASIC chips cannot be used for anything other than Bitcoin mining.
Bitcoin Developments Prove Problematic For Miner Profitability.
Several recent linked developments in the Bitcoin mining industry are making a difficult operating environment even more challenging. The troubles first began on October 17, when Bitcoin network difficulty levels reached an all-time high, up around 40% since early June.
Bitcoin mining is performed by a collection of many computers on the Bitcoin network where these powerful Bitcoin mining tools solve extremely complex math problems. The answer to such a problem is a long string of numbers, called a hash or proof of work. The Bitcoin network adjusts the difficulty of the mathematical problem so that a valid hash is generated - thereby enabling a block to be added to the blockchain - about every ten minutes.
Generally, the greater the participation of miners in the network, the greater the network difficulty level. The only way for a Bitcoin miner to counteract this higher difficulty level is to add more computing power, which entails increased expenditures on computer equipment and, in turn, increased required electricity consumption.
Second, there are so many computers operating (mining) on the Bitcoin blockchain that the number of correct hashes created, the hash rate, is likewise at an all-time high. The presence of so many participants working to solve problems with the highest ever-recorded difficulty level to capture Bitcoin rewards, which were cut in half about five months ago (referred to as the May 2020 Bitcoin halving event) has made operating profitably after paying electricity costs a challenging task.
For example, even the newest-generation mining computer, a Bitmain Antminer S19 Pro, can be expected to generate an annual gross margin of around US1,460 assuming fairly low electricity costs of around $0.06 per kilowatt-hour (Kwh). This state-of-the-art computer costs around US$3,000 to purchase, so it only generates only about breakeven annual gross margin before considering all other costs (real estate taxes, salaries, etc.) prior to the end of its two year projected life. Other slower computers would generate losses comparatively.
Third, in October 2020, the private Bitcoin miner Marathon Patent Group announced that it plans to build a specialized Bitcoin mining center in Montana. Marathon chose this location because it negotiated a low-cost power purchase agreement with Beowulf Energy, a private independent power producer. Under the accord, Beowulf will supply Marathon electricity at US$0.028 per Kwh from its 119-megawatt Hardin coal-fired power plant. The catch: Beowulf will also receive an undisclosed equity stake in Marathon.
The transaction illustrates a Bitcoin miner's need to secure a reliable and cheap source of electricity in order to remain competitive, but also that the cost to secure that power can be significant. In this case, Marathon had to surrender a portion of the ownership stake. We also note that several energy companies are now participating in the Bitcoin mining industry. These new participants, in many cases well-capitalized participants with the ability to be patient and absorb subpar returns for some period, could potentially squeeze the margins of legacy Bitcoin miners.
The Bitcoin miner Hut 8 Mining Corp. (TSX: HUT) last traded at $1.13 on the TSX Exchange. Bitfarms Ltd. (TSXV: BITF) last traded at $0.38 on the TSX Venture Exchange, and HIVE Blockchain Technologies Ltd. (TSXV: HIVE) last traded on the TSX Venture Exchange at $0.47.
Getting started with Bitcoin mining.
As Bitcoin starts to gain more adoption, and with it, publicity, you might be wondering how you can start mining it for yourself. Bitcoin mining is a great way to support the blockchain while making a bit of profit for yourself. Getting started only takes a few steps, but it's important to get them right to start your experience right.
Before everything else, if you want to start your own operation, it's important to educate yourself about how Bitcoin mining works, assess the current market, and figure out if it's cost effective with your current set-up. Mining operations rely heavily on cheap electricity to turn a profit, so if you calculate that power will cost you less than the profits you'll make from mining, that's a great sign for you to begin.
Next, you'll need to buy your hardware. It's often best to buy the latest and most advanced mining rigs available, as they'll keep your energy costs lowest, and provide the most hashrate, meaning you're more likely to mine the next block in the chain and get the block reward.
Once you have your hardware picked out, you'll want to decide on your wallet set-up. If you're planning on mining a bunch of Bitcoin, you'll want a safe and secure cold storage wallet, as well as a solid everynday wallet to use for transactions. Don't forget to keep your private key safe, and have your backup plan should anything happen to either of your wallets.
Next, you'll probably want to consider joining a mining pool. While winning a block reward for yourself will mean a great big return on your investment, going alone could mean waiting a long time before that happens, if ever. By joining your mining operation to that of a pool of others, you're all more likely to mine blocks much more often, sharing the rewards so you can start profiting sooner.
Assuming you joined a pool, enter your pool and wallet information into your mining software, fire it up, and you're mining Bitcoin! But that's not where it ends. You'll need to keep up to date on the latest developments of the Bitcoin world, including the latest trends, protocol news, and most important for your bottom line, price.
The 10 Most Important Cryptocurrencies Other Than Bitcoin.
Monero is a popular choice for those searching for a cryptocurrency that promises anonymous transactions. It is not a secret that the popular ones today utilise transparent blockchains, which means that the transactions can be verifiable without much difficulty. Monero is a decentralized cryptocurrency, meaning it is secure digital cash operated by a network of users. Transactions are confirmed by distributed consensus and then immutably recorded on the blockchain.

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How many XMR coins are there?
As of writing, there are 15,054,759 XMR in circulation and each Monero is worth $114.83. The total market cap of Monero sits at $1,728,798,235. In total there are 18.4 million XMR and mining is projected to go on until 31st May 2022. After that, the system is designed such that 0.3 XMR/min is fed continuously into it.
A public key (a long, random-looking string of numbers) is an address on the blockchain. Value tokens sent across the network are recorded as belonging to that address. A private key is like a password that gives its owner access to their digital assets or the means to otherwise interact with the various capabilities that blockchains now support. Data stored on the blockchain is generally considered incorruptible. This allows the participants to verify and audit transactions independently and relatively inexpensively.
All cryptocurrency exchanges operating in Japan are under the purview of the Japanese FSA. Many Japanese cryptocurrency exchanges are now known to be pulling down the curtains on transactions of private cryptocoins. Due to its privacy features, Monero experienced rapid growth in market capitalization and transaction volume during 2016, faster and bigger than any other cryptocurrency that year. This growth was driven by its uptake in the darknet market, where people used it to buy stolen credit cards, guns, and drugs. Two major darknet markets were shut down in July 2017 by law enforcement. For most Monero (XMR) users, they choose this cryptocurrency because of its security.
All cryptocurrency users are given a public address or key which is unique to each user. With Bitcoin, the recipient of the coins has the coins transferred to his address which he has to divulge to the sender. The sender can see how much Bitcoins that the recipient has once he has knowledge of the fund recipient's public address. Through the Bitcoin blockchain, all coins transferred from the sender to recipient are recorded and made public. Monero is a digital currency that offers a high level of anonymity for users and their transactions.
What Is Monero (XMR) Cryptocurrency?
What is XMR mining?
Monero (XMR) is a Cryptonote algorithm based cryptocurrency, it relies on Ring Signatures in order to provide a certain degree of privacy when making a transaction. Monero is a Proof of Work cryptocurrency that can be miner with computational power from a CPU or GPU.
It confirms that each unit of value was transferred only once, solving the long-standing problem of double spending. A blockchain can maintain title rights because, when properly set up to detail the exchange agreement, it provides a record that compels offer and acceptance.
Most cryptocurrencies use blockchain technology to record transactions. For example, the bitcoin network and Ethereum network are both based on blockchain.
Launched in 2014, Monero (XMR) is an open-source, privacy-oriented cryptocurrency that is built and operates on the blockchain concept. The analysis of public blockchains has become increasingly important with the popularity of bitcoin, Ethereum, litecoin and other cryptocurrencies. These blockchains, which form the underlying technology behind digital currencies, are public ledgers of participants' activities that show all the transactions on the network.
Like Bitcoin, Monero is a decentralized peer-to-peer cryptocurrency, but unlike Bitcoin, Monero is characterized as a private digital cash. However, that approach offers limited privacy as both the bitcoin addresses and the transactions are registered on the blockchain, opening them to public access.
A blockchain database is managed autonomously using a peer-to-peer network and a distributed timestamping server. They are authenticated by mass collaboration powered by collective self-interests. Such a design facilitates robust workflow where participants' uncertainty regarding data security is marginal. The use of a blockchain removes the characteristic of infinite reproducibility from a digital asset.
Launched in 2014, Monero (XMR) is an open-source, privacy-oriented cryptocurrency that is built and operates on the blockchain concept. These blockchains, which form the underlying technology behind digital currencies, are public ledgers of participants' activities that show all the transactions on the network. The analysis of public blockchains has become increasingly important with the popularity of bitcoin, Ethereum, litecoin and other cryptocurrencies. A blockchain, if it is public, provides anyone who wants access to observe and analyse the chain data, given one has the know-how. The process of understanding and accessing the flow of crypto has been an issue for many cryptocurrencies, crypto-exchanges and banks.
Third-parties do not need to be trusted to keep your Monero safe. Banks preferably have a notable interest in utilizing Blockchain Technology because it is a great source to avoid fraudulent transactions. Blockchain is considered hassle free, because of the extra level of security it offers.
The reason for this is accusations of blockchain enabled cryptocurrencies enabling illicit dark market trade of drugs, weapons, money laundering etc. A common belief has been that cryptocurrency is private and untraceable, thus leading many actors to use it for illegal purposes. This is changing and now specialised tech-companies provide blockchain tracking services, making crypto exchanges, law-enforcement and banks more aware of what is happening with crypto funds and fiat crypto exchanges. The development, some argue, has led criminals to prioritise use of new cryptos such as Monero.
The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications, and blockchains that are readable by the public are widely used by cryptocurrencies. Sources such as Computerworld called the marketing of such blockchains without a proper security model "snake oil".

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On 8 May 2018 Facebook confirmed that it would open a new blockchain group which would be headed by David Marcus, who previously was in charge of Messenger. Facebook's planned cryptocurrency platform, Libra, was formally announced on June 18, 2019. The ban will come into effect on June 18, 2018, and will impact trading of a few major cryptocurrencies that offer privacy-rich features. They include Monero (XMR), Dash (DASH), Augur's reputation token (REP), and ZCash (ZEC).
The Five Most Private Cryptocurrencies.
The question is about public accessibility of blockchain data and the personal privacy of the very same data. It is a key debate in cryptocurrency and ultimately in blockchain. Blockchain was invented by a person (or group of people) using the name Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin.
Getting Started With Bitcoin mining: a Brief Guide.
As technology continues to advance at a fast pace, finance has followed the same footsteps. In today's world where everyone is looking for new ways to invest and manage their finance effectively- bitcoin has become a leading indicator of that desire.
When Bitcoin was invented, it was considered as an unproven currency and many nations did not consider it to be acceptable. However, with the growing time, many nations including Australia have started to make peace with the concept of Bitcoins.
Major retailers such as Home Depot, Dell and Zappos are accepting Bitcoins as a mode of payment. You might be intrigued by the concept of Bitcoins and you must wonder ' how to start Bitcoin mining?' well to understand that you need to first understand the insights of bitcoin.
Bitcoin is not tied to any country or region for its economic value. It is 100% decentralized and powered by math which uses complex algorithms that run on powerful computers. What contributes the highest in the success of bitcoin is its accuracy and the methodical release of additional currency over time.
Miners can obtain bitcoins by accomplishing small tasks which help them earn bitcoins in return. Bitcoin mining is legal in Australia and is widely used by various retailers. From a cup of coffee to a billion dollar mansion you can buy everything by using Bitcoins.
Who is a bitcoin miner?
A miner's job is to validate the accuracy of the transaction and note each transaction in a general ledger. When a person deals in bitcoins these transactions get recorded in a ledger which is called a blockchain. The network completes the task by recording all of this transactional data in a list that have occurred in a specific time period.
One might wonder whether Bitcoin mining is profitable? Yes, sure it is. However, before you start Bitcoin mining it is very important to understand what it really means. Bitcoin mining is done by running SHA256 double round hash verification process. This process provides validation to the bitcoin transactions and ensures security for the public ledger of the Bitcoin network.
The bitcoin network rewards the miners with bitcoins for their contribution. Let us understand step by step that how the Bitcoin mining process works.
Step 1: get the best Bitcoin mining hardware.
In some cases, it is required to purchase this hardware with bitcoins only. This hardware is available and can be bought from certain websites. You will also want to check the Bitcoin charts. another option to purchase Bitcoin is by cloud mining. However, this process is a bit riskier as you do not hold any control over the hardware.
Step 2: Download free Bitcoin mining software.
Once you have got your hands on the Bitcoin mining hardware you need to download a special program that is used for Bitcoin mining. There are various programs that are available for bitcoin ming. The most popular ones are CGminer and BFGminer which are command line programs. You can learn in details about how to use this software from the instruction manual.
Step 3: Join a Bitcoin mining pool.
Once you are through with the bitcoin software now it is time to join Bitcoin mining pool. Bitcoin mining pool is basically a community of miners that work together to maintain the records in the blockchain and share in its rewards.
It is important to join a Bitcoin mining pool as without doing so you can miss out on earning any Bitcoins. It is very convenient to share the work and split the reward with a much larger group. If you are looking for a fully decentralized pool, it is highly recommended to use p2pool.
Step 4: Set up a bitcoin wallet.
The next step is to set up a bitcoin wallet so that any bitcoins that you receive during the mining process can be stored in it. There are various bitcoin wallets available that will help you with different operating functions. You can also use Bitcoin hardware wallets. Bitcoins are sent in your Bitcoin wallet by using a unique address that only belongs to you.
One thing that can be done to secure your Bitcoin wallet from potential threats is by enabling two-factor authentication. You can also ensure privacy by using an offline computer which does not have any access to the internet so that no virus or hackers can get access to it.
Step 5: staying up to date with Bitcoin news.
Staying up to date with the bitcoin market is very important for your Bitcoin mining profits. You can go through various articles or follow pages that regularly stay updated about the trends in the bitcoin industry. The use of Bitcoin has become quite popular in Australia. You can also learn how to mine Bitcoins at home and do it using some of the above-mentioned methods.

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How to mine a bitcoin - Tutorial|10:49

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How to mine a bitcoin - Tutorial|10:49